About your Search

20090901
20090930
SHOW
( more )
STATION
CNBC 119
CNN 41
MSNBC 38
CSPAN 37
WETA 23
WBAL (NBC) 22
WMAR (ABC) 22
HLN 21
WJLA 21
FOXNEWS 20
WRC 19
CSPAN2 17
WHUT (Howard University Television) 17
WUSA (CBS) 14
WTTG 13
WJZ (CBS) 11
( more )
LANGUAGE
English 475
Search Results 0 to 49 of about 475 (some duplicates have been removed)
't be there to break your fall. >> susie: the speech marks the one-year anniversary of lehman brother's spectacular failure. but what if lehman had survived? would the crisis have cooled down? we answer that question and more in "lessons from lehman". >> paul: not so fast. bank of america thought it had a deal with the s.e.c. to put those pesky merrill lynch bonuses to rest. but a ruling today could land everyone involved in court. >> susie: then, from tires to auto parts to chicken. there could be a trade war brewing with our biggest supplier and buyer: china. >> paul: i'm paul kangas. >> susie: and i'm susie gharib. this is "nightly business report" for monday, september 14. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> susie: good evening everyone. president obama delivered a stern warning to wall street today: "we will not go back to the days of reckless behavior." those harsh words came on the eve of the one-year anniversary of the financial crisis, when lehman brothers collapsed. speaking
. >> susie: today marks one year since the lehman brother's bankruptcy. so how's wall street doing now? we get some answers in tonight's "lessons from lehman." >> paul: investors put best buy shares on sale today. the stock dropped 5% as the electronics retailer posted a bigger than expected drop in profits. >> susie: more people are staying unemployed longer and that's leaving many americans with hard choices: pay the mortgage or pay for health care coverage. >> paul: i'm paul kangas. >> susie: and i'm susie gharib. this is "nightly business report" for tuesday, september 15. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> susie: good evening, everyone. ben bernanke declared today that the recession is "very likely over." but the fed chief cautioned that the u.s. economy still is very weak and many americans will continue to struggle to find jobs. speaking at a conference in washington, bernanke explained that technical indicators show the recession has ended, but growth will return slo
if lehman had survid? would the crisis have cool down? we answer that question anmore in "lessons om lehman". >> paul: not so fast. bank of america thght it had a deal with e s.e.c. to put ose pesky merrill lynch bonuses to rest. but a rulingodayould land everyo involved in court. >> susie: then, from tires t auto partso chicken. there could be arade war brewing th our biggest sulier and buyer: ina. >> paul: i paul kangas. >> sie: and i'm susie gharib. this is "nightly busess report" for nday, september . "nightly business report is made possle by: is program was made possible by contributio to your pbs ation from viewers like you. thank you. >> susie: good evening eveone. prident obama delivered a stern warning toall street today: "we will not go back the days of reckss behavior." those harsh words came on th eve of the one-year anversary of the financial crisi when lehman broers collapsed. speaking at federal ll in new york's financial district, t president said the economy i beginning to recer. but he cautionednormalcy cannot lead toomplacency." he urged walstreet to embrace his plans fo
>>> good morning.g. one year later, this time last september lehman brothers was collapsing. bank of america was buying merrill lynch, and the u.s. government was stepping in to save aig. the president heads to wall street, a major speech on the u.s. economy today. the markets at this hour, red arrows across most of europe and asia and u.s. equity features pointing to a lower start here at home. "squawk box" begins right now. >>> good monday morning, welcome to "squawk box" here on cnbc, i'm carl quintanilla, becky is on assignment today. our guest host this morning, peter cohen, the former lehman ceo, founder of ramius llc. great to have you on the program. >> great to be here. >> an appropriate morning for peter to join us. it's one year since lehman brothers collapsed, it changed the financial world forever. september 14th, 2008, lehman employees were seen walking out of the firm's new york headquarters carrying boxes unsure about what the future held on that same sunday b of a and meryl werill were working o deal of their own. >> i remember that. i want to talk to peter about
: today marks one year since the lehman broer's bankruptcy. so how's wall street doing n? we get some answers in tonight's "lesss from lehman." >>aul: investors put best buy shares on sale tod. the stock opped 5% as the electronics retailerosted a biggerhan expected drop in profits. >> susiemore people are staying unemployed longeand that's lving many americans with hard choice pay thecovera. >> paul: i'm paukangas. >> susie: and i'm susigharib. this is "nightly biness report" for tuday, september 15 "nightly business report" is made possib by: this program was made possib by contributns to your pbs station from viewers like yo thank you. >> susie: go evening, everyo. ben bernanke declared todathat the cession is "very likel over." but e fed chief cautioned that the u.s. economy still ivery weak and manamericans will continue to ruggle to find jo. speaking at a conference i washington, bernanke explaed that technical indicatorshow e recession has ended, but grth will return slowly. darren gersh reports. >> reporter: the rovery ben bernanke is looking for ll be a moderatene. the fechai
of the collapse of lehman brothers a year ago; jeffrey brown has a big picture look on what's changed and what hasn't on the financial front; gwen ifill examines the growing partisan split in washington and beyond; and remembering the father of the green revolution, nobel peace laureate norman borlaug, who died over the weekend. major funding for the newshour with jim lehrer is provided by: >> tiny little thing, it's just... not big. ah... okay, i found it. ( cheers and applause ) okay. >> we are intel, sponsors of tomorrow. >> the advisors nearby. with the advice and planning to help you address today's challenges, we're with you. wachovia securities is now wells fargo. together we will go far. chevron. and the william and flora hewlett foundation, working to solve social and environmental problems at home and around the world. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: president obama warned the fina
of lehman rocked the world. >> we kind of approached the edge and looked over. >> an enormous shock was delivered to the system. >> the collapse of lehman was a pivotal moment. >> we had to prepare for something that was very big. really big. >> it rocked the world. more focus in asia, julia. when wall street titan lehman brothers was forced into the bankruptcy, it pushed the markets to collapse. led to the biggest recession since the 1930s, and within 24 hours, $700 billion had been wiped off markets around the globe. dow jones slumped 500 points, the biggest one-day fall since 9/11. and in this special edition of "worldwide exchange," we're going to trace the global fallout and assess what's really changed for investors, bankers, regulators, and business leaders right across the globe. we're going to be joined by an extraordinary lineup of guests, including jim rogers and lord lamont, the weekend that changed the world with special reports, as well, from london, hong kong, mumbai, and plenty more. and we'll also examine the worlds of banking, regulation, and economics to find out
knees by the collapse of lehman brothers. and now the dow jones average is back into the mid 9,000s territory. the massive systemic bank risk has been taken off the table. and we're well on our way to a full-blown economic recovery. today we even shrugged off a potential chinese trade war and rallied from what looked to be a potential 1% decline at 4:45 a.m., when i checked in, like i have a clue how to stay asleep when the market's open somewhere, and we ended up rallying 21 points on the dow. and yet all i hear is negativity. even el presidente, the president, who should have been taking credit for how well things are going last year, he wasn't nearly bullish enough about the change. and then i have to keep hearing from guys like joseph stieglitz, a nobel prize-winning economist. he says the banking system is worse off now than when lehman imploded. you know what i say? i say what is heck is he smoking? i think it's so stupid, wrong, and anti-empirical that it's just downright silly, doesn't even dignify the use of videotape or digital, whatever they do now. it's statements like t
about. he said you know he worked for lehman and i actually didn't. i knew larry worked on ll street but i didn't know where he worked. and i said, this do you want, he was a book about lehman brothers? and james said yeah, he wants to blow the lid off of lehman brothers and clary have read "lone survivor" which is another thriller and i said he really wants to blow the lid off lehn brothers and he really wants, no punches pulled, i don't want to deal with someone who is pussyfooting around and making excusds for people. i id if he really wants to let reprentative i am probably his manser to lmi what if that is what he wants to do so we got him on the telephone and larry said he did indeed want to tell the whole, unvarnished tail of how lehman brothers collapse, the biggest bankruptcy in the history of the universe. i said, then i would like that but you had better get over here. he said, when? i sai now, so he left the following morning and was in england for dinner, which is a pretty good faith of the activity. and we started there. it was difficult, because what i don't knowbout
the collapse of lehman brothers and the start of the global crisis. he said the old ways that led to it could not stand. he said the u.s. would work with economies around the world to coordinate action, but that it will be an uphill battle. he faces opposition on wall street and in congress. >> president obama arrived 12 months on from the financial meltdown to deliver a warning in the backyard of the bankers. some were choosing to ignore the lessons of lehman brothers. >> they do so not only at their own peril, but also at our nation's. i want everyone here to hear my words. we will not go back to the days of reckless behavior and unchecked excess that was at the heart of the crisis. too many were motivated only by the appetite for quick money and additional bonuses. >> this is the place where george washington took the oath of office as the first president of united states more than 200 years ago. the speech today by president obama is not such a momentous occasion, but it does mark the first anniversary of an event that changed this country and the world. as the minutes ticked down to midn
-year anniversary of the lehman collapse, risk assets tend to be extremely correlated when liquidity leaves the market. it's clear that liquidity is in the market right now. but the cost of protecting a portfolio via, for example, put options is down dramatically as represented by the price of volatility like the vix index. we're working with clients on looking for opportunities to hedge broad market risk with put options. >> let's talk a little about the moves in the market, michael. in particular, you look at commodities, things like oil, gold of course, the dollar weakness today. do you read into this as far as of things to come, how do you want to position yourself in the face of what we're looking at in commodities? >> i think you need to first of all be in commodities. i think that much of what's been predicted about commodities in terms of being an inflation hedge as well as the eerjing side makes a lot of sense. but what i want to comment, i'm going to be in singapore in the next couple months. i was just there recently. when you go to the tall buildings, you look out into the harbo
the anniversary of the collapse of lehman brothers and the day that the financial world teetered on the edge with a series of special programs. i will be joined by my colleague from around the globe. >> live from singapore, one year on optimism has replaced fear in asia. what happens when those massive economic stimulus plans are no longer there? >> here at them -- mumbai stock exchange, numbers are double what they were at the deepest times of the crisis last year. people leaving for work, going home, and we will assess the scale of the new levels of competence in india. >> thank you. more from nick and michelle throughout the course of the program. one year ago thousands of employees from lehman brothers walked out of their office for the last time. september 15 was the day that the bank imploded, causing stock markets to collapse and plunging the world into a recession deeper than seen in 60 years. president barack obama has said that the future needs to include tougher regulation without government bailout. >> as the minutes ticked down to midnight from september 15, 2008, lehman brother
his visit comes on the one-year anniversary the collapse of lehman brothers. dan harris has more. >> reporter: one year ago this weekend government officials were trying to decide whether to rescue lehman brothers, a bank previously considered unsinkable. the government decided to let lehman collapse and that triggered what is being called the great recession. since then the economy has shed nearly 6 milli jobs and the value of the average existing home has decreased by about 15%, though many economists say it would have been worse without the $700 billion bailout of wall street's other mor banks. stocks, too, took a nosedive after lehman collapsed dropping almost 5,000 points at the bottom but today they're on a rebound, though still 1,800 points lower than they were a year ago. americans have started cautiously to peer at their 401(k) statements once again. >> reporter: since the bott six months ago, everyone should be feeling a lot better about their nest eggs. >> reporter: if you're more than ten years away from retirement, many analysts say it is time to start taking some
of the clapse of lehman brothers a year ago; jeffr own has a big picture look o at's changed and what hasn't on the financial fnt; gwen ifill examines the growing paisan split in washington and beyond; anremembering the faer of the green revolution, nobel peace laureateorman rlaug, who died over the weekend. major fundg for the newshour with jim lehrer provided by: >> tiny little thing, 's just... not big. ah... okay, i found it. ( chee and applause ) okay. >> we are int, sponsors of tomorrow. >> with thadvice and planning to help you dress today's allenges, we're with you. wachovia securies is now wells rgo. together we will go far. chevron. and the william and ora hewlett foundation, woing to solve cial and environmental problems at home and arod the world. anwith the ongoing support of these institutns and foundation and... this program was made poible by the corporation for pubc brdcasting. anby contributions to your pbs station from viewersike you. thank you. >>oodruff: president obama waed the financial industry today not bring on another meltdown he ske on the anniversary of the h
by day by day. >> [inaudible] >> tyid but at lehman brothers they re annihilated and they lost a lot of their wealth. they did. but, you know, . >> i follow you on in twitter. [laughter] i noticed a comment that you made a you areorried about current financial conditions. would you care to comment o matt? >> the patient was on the operating table the patient was getting life-support a coup months ago. we gave the patient an experimental drug the quantitave easing we have neve done that and united states before it was always cutting interest rates that is what we have aays done we ner had to do uantative easing which is an experimental drug. the economy right now is on a sugar high because of all of the liquidity pumped10 but we cannot expect the patie to run e race. that is what some people are sayingimon pricing caution that we have had a wonderful rally as in most bear markets this incredible chang the next below-market but we could go half back to the old lows then have a natural progressn? >> just to go back 53 was bad to have the sense of how will look today and the impact on th
>> it's been one year since the fall of banking giant lehman brothers. the domino effect it has on the economy and the after shocks we're feeling today. >> plus, the president pushes for financial fixes, idea that could reshape the money industry will recollect they make the financial industry -- will they make the financial industry safer. >> and are we disconnected from prices? what someone inside the health care industry has to say about health care, all ahead on this edition of "first business". >> you're watching "first business", with tom hudson and beejal patel. >> investors and the market naturally want to look forward but when coming up to a big anniversary like the collapse of investment banking giant lehman brothers it is enough to the to look forward. a year ago, dow jones industrial average took 1,000 points off the dow. >> coming up on tuesday the federal reserve chairman ben bernanke is expected to give a speech at the brookings institute in washington about the one-year anniversary of the financial crisis. coming up the of this week, economic data involving housi
about. he said you know he worked for lehman and i actually didn't. i knew larry worked on wall street but i didn't know where he worked. and i said, this do you want, he wants a book about lehman brothers? and james said yeah, he wants to blow the lid off of lehman brothers and clary have read "lone survivor" which is another thriller and i said if he really wants to blow the lid off lehman brothers and he really wants, no punches pulled, i don't want to deal with someon who is pussyfooting around andaking excuses for people. i said if he really wants to let representative i am probably his manser to lmi what if that is what he wants to do so weot him on the telephone and larry said he did indeed want to tell the whole, unvarnished tail of how lehman brothersollapse, the biggest bankruptcy in the history of the universe. i said, thei would like that but you had better get over here. he said, when? said now, so heeft the following morning and was in england for dinner, which is a pretty good faith of the activity. and we started there. it was difficult, because what i don't know about
,600 points. in the one year since lehman brothers collapsed, the dow has reclaimed more than 50% of its losses. we do have a lot of ground to cover this morning, let's get right to it this morning. christine romans, part of the cnn money team. she's joining me here in new york this morning. it's kind of an interesting question, because it's the worst of times, the best of times. there has been a lot of change since all this happened and again, there's really been no change whatsoever. >> right. everything's changeded for you and me and for companies who are hiring people and people who are working in the economy and nothing has changed in terms of regulation of wall street. i mean, the very same policies and practices and laws, in effect, that didn't prevent this crisis are still in effect. and the president's efforts to try to reform the system so far have met with pretty much a yawn on capitol hill. how do we deal with these companies that are too big to fail? many people will point out, heidi, that the companies that were too big to fail before are even bigger now and even that much
of lehman brothers is t inside story in the collapse of one of the oldest investment uses in america. tippens book shop this event. it is jt over an hour. >> good afternoon. i am patrick robinson analyte actual did the writing of the book. i am a ghostwriter sometimes. i ually write novs, but i have ghosted about four books and they have all been pretty successful in this is the fifth. and it happened in a way that was really extraordinary. larry lived in new york an i was in england and my son and larry were friends, t james was back in our house and there it was far away across the ocn. and james said one day, would you write larrycdonald's book? i said i don't know at it was to write a book about. he said you know he worked for lehman. i actually didn't. i knew very worked for wall street but dn't know where he worked. i said that the want, he wants a book about lehman brothers? james sd yeah, he wants to blow the lid off of lehman brothers and larry head written lone survivor, which is another thriller. i said that he really wants to blow the lid off lehman broths and, no punches
rose. >> rose: this week marks the one year anniversary of the collapse of lehman brothers and the escalation of the global financial crisis. president obama marked the day by speaking directly to wall street leaders at federal hall in new york city. the president spoke of progress over the past year and the pressing need far broad regulatory overhaul. >> eight months later the work of recovery continues. and thoughly never be satisfied while people are out of work and our financial system is weakened we can be confident that the storms of the past two years are beginning to break. in fact, while there continues to be a need for government involvement to stabilize the financial system, that necessity is waning. unfortunately, already some in the financial industry who are misreading this moment. instead of learning the lessons of lehman and the crisis from which we're still recovering, they're choosing to ignore those lessons. i'm convinced they do so not just at their own peril but at our nation's. so i want everybody here to hear my words. we will not go back to the days
lehman brothers declared bankruptcy, and aig was rescued by the government, and merrill lynch was sold to bank of america. the financial system really was in peril, and, of course, you were one of the few to see that coming. what have we learned one year later, and are we still at risk for a similar event happening again? >> well, we have learned that we have to better supervise and regulate banks and other financial institutions. they need more liquidity, more capital, less leverage. too-big- to-fail institutions should be a system of winding them down. we should have high capital requirement for these banks that are too big to fail, and we have to deal with the issue of compensation, of bankers, traders, investors, because a lot of the mistakes were done because of the incentive to take a lot of risk taking and leverage. there was maximizing short-term revenues, but leading them to bankruptcy of the institution over the near term. >> what do i need to know as an investor today? even as an employee today, what are the things that i need to be thinking about as i put my life into a pra
, a surprising story you haven't heard about the battle over lehman brothers. >> a new report calls it hardball capitalism at its best and worse. jamie dimon versus bob diamond. the shocking inside story is straight ahead. only here on "the call. >>> well, here's something, how about wells fargo, the san francisco-based bank plans to add 150 jobs in a north carolina hub that specializes in serving wealthy customers. adding jobs. jobs, jobs, jobs. right now the stock is basically flat, and they're adding jobs and catering to risen people. >> what a notion. >>> one year ago lehman brothers was on the brink of collapse. our next guest wrote the deal of the century in, between barclays and jpmorgan. joining us is tom janot. i loved what i said where it was a knife fight in an operating rom. >> this is during the most ka lambitious week in capitalism since the great depression. i went in thinking the barclays purchase of lehman brothers would you say going to be sort of heralding a kumbaya moment. >> no such thing. >> definitely no such thing. >> they went at it pretty hard. >> tell me about the kni
since the fall of lehman brothers. since then, s&p down 12%, dow about the same. about an hour from now, fed chairman bernanke will reflect of the year in crisis and how to move forward. he will be taking q&a, we will bring that part to you live. >> i would like to know whether the green shoots are something are more or not. i hope someone asks so we can get another term. >> i hate the green shoots. they're gone. i thought they were scallions and i ate them. >> well, mark is not the pickiest eater i've ever met. good morning, everyone. futures are volatile this morning. we are looking at a slight ly higher open. the headloin retail sales much stronger than expected even without cash for clunkers. on the inflation side, we did see a pickup in producer prices but the retail sales are winning for now in the futures, mark. >> okay. futures right now, up to 80, that's about 1.57 above fair value, good for maybe 10 on the dow. >> on the anniversary of lehman's fall, we have with us for the hour. the perfect person. a special guest, gary kaminsky, the manager director of lehman new berger unit
on the anniversary of a key moment in the global financial meltdown, the collapse of lehman brothers. alexis christoforous has more now from wall street. >> reporter: president obama headed for wall street to outline a new future for the financial markets. in a speech from lower manhattan, the president is expected to use the harsh lessons from the collapse of lehman brothers to push financial reform to the fast track [ bell ringing ] >> reporter: the dow tumbled 500 points. >> reporter: the fallout from that historic day was fast and far reaching once lehman collapsed under the weight of bad mortgage debt. he was on the trading floor that day. >> i came in the morning and it felt like the system itself was teetering. >> reporter: suddenly wall street's problems became everyone's problems. lehman's collapse triggered an economic tsunami. bank of america saved merrill lynch but taxpayers saved aig and poured $700 billion in to a bank bailout fund. as analysts look back on this past year, some are surprised how little has actually changed. banks boosted their capital cushions but are making ri
the trouble of the wake of lehman's failure. chief washington correspondent john harwood has a one-on-one interview with president obama on the state of the economy and wall street regulation. that is coming up 6:30 p.m. eastern time here on cnbc. and then after the president, you'll want to see jim cramer's take on the fall of lehman n brothers. then at 8:00 p.m., our two-hour special, one year later, the week that shook the world. mark haines and erin burnett will look at last september's historic meltdown, where we are today, where we are headed. that is tonight 8:00 p.m. eastern time right here on cnbc. >>> let's break down the market's action with jack at harris private bank, along with mark at russell investments. guys, good to see you. jack, let me start with the news of the day, which is the growing worry about a trade war potentially with china. starts with tires, then they want to talk about chicken. it doesn't seem to end. how worried are you about this incident in particular, and jusc rising tariffs in general when it comes to the overall market?c >> well, i think that
the collapse of lehman brothers and the onset of the financial meltdown. president obama on wall street today pushing for change. >>> senators who may hole the keys to any health care overhaul meeting again this hour. we watch for progress on a bill. >>> and six months into the government's mortgage modification program, cnn i-reports describe a frustrating runaround they're getting from big banks. good morning, i'm tony harris and you are in the "cnn newsroom." >>> so let's quickly get you caught up on the hot headlines then take time to break down the big issues to explain why they really matter. leading the way this hour, president obama focusing on how to protect your money by preventing another financial collapse, his speech on wall street. next hour marks the collapse of lehman brothers and i triggered the global money meltdown. the president will note the economy has improved, call for stricter oversight to safeguard against future financial implosions and discuss an exit strategy for government involvement in the financial sector. cnn's money team joins me live in a couple of minutes.
of the lehman brothers collapse to talk about what he's done to bring the economy, in his view, out of the deep hole it was in he's delivering it from federal hall, the same play where president bush delivered a call for regulation. those were a little bit too late to save the financial crisis, but now president obama is talking about what to do to prevent it from happening again. >> i was struck by the tim before the oversight panel. it it would appear they're setting us up for the next phase in the government's strategy on the bailout, though they want to start to de-emphasize that, lot in all of this with health care reform has been the financial regulatory structure in congress. when i talked to staff members of the banks committee, they said to look to early 2010 as the time we're going to get senate action, house action and try to get a piece of legislation to the president's desk, but it's a major priority. of course, the banking chairman, chris dodd, who's recently made the decision to stay at the committee is under a major reelection challenge, so it's quite important for him to have a
were pretty wobbly already. dow stood at 11,533 after bear stearns failed, didn't know lehman brothers, a fortnight, the collapse would usher in a free fall in the narcotic and unprecedented regulatory -- the dow is down only about 18% 52 weeks later, s&p 20% and nasdaq 15%. quite remarkable when you compare, say, the do the-com bubble when they were down 60%. maybe we had an inkling a year ago of what was to come. we came in that first september morning as a trade with the futures pointing lower in part because of an interview with britain's chancellor. he warned we faced an economic crisis as bad as the depression and it would be more profound and long lasting than people thought. even more than he thought. the british market one year later has seen lower losses in the u.s., down 13%. hong kong hang seng, standout has been the dollar. look at the rise. sought safe haven in the greenback. quite a ride from a year ago that the pound had hit new lows against the dollar on that comment. now it's down another 10% this past year. the euro has held with france and germany already out of rec
. and a year after lehman's collapse, many questions still remain about the health of the financials, and the overall economy. ba ri a bartiromo sat down with two of the bigger names in the financial world. we'll hear from bob diamond, up next, blackrock chairman larry fink talks about what kind of recovery re might see. >> people ask me, the severe economy, the new economy. i like to call it the, essentially the swish economy. >>> a power player in restoring liquidity to wall street. larry fink was the government's go-to guy to help put a price tag on troubled assets at fannie mae, freddie mac and aig. his firm was willing to take the risk. backing a $1 trillion fed program to acquire residential mortgage-backed securities. fink also counseled then treasury secretary henry paulson on the original rollout of the t.a.r.p. plan. he was convinced that using t.a.r.p. funds to acquire toxic assets from the banks was the right move. if paulson opted to acquire equity stakes, which fink says was a major mistake. as a stock market has rebounded in 2009, economic recovery has been slow to fol
system. lehman brothers declared bankruptcy after failing to get government help. it was a year to the day. >> from the abc news vault here is "world news tonight" from september 15th, 2008. >> good evening. it doesn't take a financial expert to appreciate how rough and tumble this day was on wall street. the market held together for much of the day with only a 200 to 300 point loss. at the end of the trading day the bottom fell out. then it dropped to a 504-point loss. the financials institutions are in trouble. lee man brother filed for bankruptcy. merrill lynch was sold after just two days of discussions. it is all a bit dizzying. betsy stark is here with more. >> reporter: charlie, this was the day we were afraid to wake up to, the bankruptcy of one major wall street investment bank, the shotgun wedding of another. some called it the end of an era, another a day of reckoning. that 500 point drop in the dow is telling us investors are worried there is more to come. it was a day for the history books on wall street. >> you go to sleep on friday, wake um on monday and things h
. >>> it was one year ago a year ago that lehman brothers collapse. >> brianne carter is live outside the white house with more on the white house reforms. >> the president is expected to give a speech in new york just after noon today and he is expected to talk about plans with the government will wind down their role in the financial sector. many people believe the collapse of lehman brothers triggered the financial crisis. one year ago, the bank collapsed. lehman brothers when belly up, marking a key moment in the global financial meltdown. since then, nearly 6 million jobs have been lost and the average value of a home has decreased by 15%. many economists say it would have been worse without the big bailout. >> they have done good work in stabilizing the financial systems. the risk of another panic is still very high. >> the president is expected to argue that there should be tougher regulations to prevent another collapse. obama is expected to again try and push congress to pass financial regulatory changes, while at the same time asking the financial community' to take responsibility for
. >>> after the fall. the president heading to wall street, one year after the collapse of lehman brothers pushed the entire economy over the edge. has anything been done to prevent another financial meltdown? >>> digging for clues. the case of the missing yale student who was supposed to be married today takes a grim turn. where the police are now searching. >>> and, over the line. disorder on the court. >> i didn't say i would kill you. are you serious? >> serena williams, tossed from the u.s. open. does the punishment fit the the u.s. open. does the punishment fit the crime? captions paid for by abc, inc. >>> good evening. president obama is heading into a very big week on two issues that may well define his presidency. tomorrow, it's the economy. mr. obama hes to the scene of the crime, wall street, where he'll give a speech on the first anniversary of the collapse of lehman brothers, which many believe triggered the financial crisis. on thursday, it's health care. reheads to maryland for another rally to push his controversial reform plan. today, more cracks were developing in a centr
it, but the point that dick says about hindsight is, i wish they had. i think lehman was a great financial institution. but if they had, then everybody would have criticized the way in which they did it. whatever way they decided to "save lehman" may have caused ripple effect. >>> we are in the cnn "newsroom" with kara phillips. >> a grim anniversary in the u.s. financial market. the search may be over but the mystery begins. and the yale student who tried to send off alarms about crime. >>> and death by surprise in afghanistan. >> there is an individual at this point. >> a roadside bomb and i'm kara phillips. >>> if you don't work on wall street, it's one of those dates that will burn into your memory and the crisis that paralyzes and recession and rescue and treasury and the market still hasn't recovered sold congress on new regulations that the president tried to push forward in the peach speech. you may have seen this live on cnn in the last hour. >> those on wall street cannot resume taking risks without regard for consequences and expect that next time american taxpayer als
. >> coming up, it was the collapse of limon brothers the push the global markets over the -- of lehman brothers that pushed the global markets are the edge. when you're on, what have we learned? and the governing bodies receive the results of the test on castor semenya that delays their release. he claims to be the best leader ever and will not step down berlusconi has brushed off any suggestions over his resignation of various sex scandal. his wife and as she is divorced and because of his fondness for guns or women. >> berlusconi showing the spanish prime minister are round and is usually -- around in his usually combative look at these journalists, he says, some are good, some are bad. it is all set with a smile. the italian leader is a force to defend himself against a lurid allegations. the latest direction suggests at least 30 women went to 1840's hosted by mr. berlusconi, far more than first thought, and many of the woman paid. prosecutors said the prime minister will not face criminal charges, as he did not know the women were prostitutes, something he has also been claiming al
the collapse of lehman brothers, world leaders are saying there is cause for optimism. >> we still have a long way to go. but there is little debate that the decisions we have made and the steps we take helped stop our economic freefall. >> is he right? we have the global picture from our correspondent in europe and across asia. our other main headlines -- iraq's shoot report is released and claimed he was tortured in jail. fixing zimbabwe -- the country is slowly on the mend, but leaders are feuding. and, he took the baby out of that corner. a tribute to patrick swayze. >> this time last year, the world was teetering on the edge of a second great depression. americans had decided not to save lehman brothers. ben bernanke is a cautious man who chooses his words carefully and says it's very likely the recession in the u.s. is over. in one minute, we will hear from bbc correspondent across the globe. [audio difficulties] >> a day after scolding wall street, the president is trying to sue the main street. [audio difficulties] >> you work hard, you meet your responsibilities, you deserve better th
of the collapse of lehman brothersnd the escalation of the obal finaial crisis. esident obama marked the day by speaking rectly to wall stet lders at federal hall in new york city. the president spoke of progress over the past year and the pressing need far broad regulary overhaul. >> eht mths later thework of recovery ctinues. and thoughly never beatisfied while people are outf wor and our finaial system is weakened we can be condent that the storms of th past two years are ginning to break. in fact, while there continues to be a need for government involvemento stabilize the financial system, that nessity waning. unfortunatel already some in the finaial industry who a misreading this ment. instd of learning the lessons of lehman an the crisis from which we're ill recovering they're choosing t ignore those lessons. i'm convincedhey do so not just at their own peril bu at our nation's. so i want everybody here to hear my words. we will not go backto theays of reckless behavio and unchecked eess that was at t art of this cris. for too many were motived only by the appetite for quick kil d blo
southbound in springfield. >> thank you. >>> it was on this day one year ago that lehman brothers collapse. >> the president is calling for more oversight of the financial institution. we have more on wall street reforms. >> later today, the president is expected to talk about plans to wind down the government's role in the financial sector, and this comes on the anniversary of the collapse of lehman brothers. many believe this triggered the financial clappecollapse. lehman brothers went belly up. nearly 6 million jobs have been lost since then. the value of the average home has decreased by about 15%. many believe it would have been worse without the big bailout. >> the have not changed anything fundamentally. until they do come up the risk of another financial panic is still very high. >> the president is expected to share that sentiment. he will talk about tougher regulations. obama is expected to again push congress to pass financial changes. he will also ask the financial community to take more responsibility for their actions. as the president calls for efforts to repair the economy,
guest host peter cohen, former ceo of shearson lehman. overall, peter, feeling good or not? you've got too many worries to be bullish out right? >> i'm not bullish.h. we have a lot of very difficult problems to work our way through as a country. >> are they going to play themselves out over years? >> over years and years, yep. >> it's good having you as always. a lot of good insight. >> thanks for having me. >> make sure you join us tomorrow. "squawk on the street" is coming up next. >>> this is cnbc.com news now. >> airlines gets a boost before the opening bell. carrier projects higher than expected profit margins due to lower than expected fuel s. good year tire stores over 5% along with other u.s. tire makers after the obama administration's decision to impose import duties on chinese tires. >>> president obama goes to wall street for one-year anniversary of lehman's collapse. that's cnbc.com news now. i'm courtney reagan. >>> live from the financial capital of the world, this is "squawk on the street" on a monday morning. and it is one busy day on wall street. i'm erin burnett alon
street to mark the one-year anniversary of the financial crisis, specifically the fall of lehman brothers. president obama is coming to town. he's set to deliver a speech at federal hall at noon which we will, of course, cover live. michelle ka ru scaruso-cabrera . >> it's significant and symbolic because it sits right on wall street, faces the new york stock exchange. we have a palpable air of excitement here. if we could pan the camera here, there's a crowd building out front. i'd estimate there 200 to 300 people here. increasing throughout the morning. i would say there's only one protester holding up a sign that says wall street reform first. he says he thinks basically health care reform should be put aside and first go after wall street reform. because he thinks financial reform is far more important at this point because it did cause the financial meltdown that we dealt with. so many dignitaries are here. important people from wall street. no surprise the former fed chairman paul volcker. don maren is here as well. roj cohen, one of the individuals in the room for nearly every sing
and lower interest rates at some point. >> bear sterns waited. >> same thing. >> lehman brothers waited for rescue. >> jimmy cain used the word "bounceback." >> but ultimately they did rescue. i want to come back to the too big to fail. >> i have to finish telling the history. >> go ahead. >> bear sterns -- >> hold on. it was a ridiculous notion. merrill lynch stock holders got killed. it may have been true that they would come in -- >> you're wrong. they waited before they got -- terrible misreading of the reality. >> they could have sold earlier. >> but he was stupid. >> because he thought he was going to get bailed out. >> because he was dumb. >> because they got bailed out in the past. >> but citibank is paying their guys -- mort zuckerman -- i want to get to the floor of the stock exchange and talk about reagan versus obama. but on this point, there seems to be some significant interest here on the panel about this point. now, mort, first of all, how important is compensation to the downfall of the banks and the excess of risk take something is i had a red herring. >> i think it is
collapse of capitalism. lehman brothers was on the brink of bankruptcy. this morning, we look at what's changed on wall street. are they still taking those big risks. >>> and also, a unremarkable story about a 15-year-old. she stands less than 2 feet, 23 inches tall. we're going to take a look at her brave life.> yo>>itur >>> your little boy like thomas the tank engine. >> hi's a little bit old now. >> he may miss the transformation. this be loved character is getting a new look. our reporter snagged an exclusive first interview with him. >> exclusive. >>> also, shocking, women's semifinal. the u.s. open last night. serena, after a crucial call against her. she, also threatened, shall we say, shove her ball down someone's throat. that's cleaning it up. >> ultimately cost her. >>> claiborne is here. >>> good morning, eryone. in the news, coali fonorces militants in westernf taliban ghisafn.antaghanistan. the fighti a comesfter three american and seven aomn trhaoops were killed in a complex ambush involving gun fire, two roadside bombs and rocket-profelled grenades. >>> the .gone is wor
Search Results 0 to 49 of about 475 (some duplicates have been removed)